Coal imports by power companies surge - Scindia

NEW DELHI Fri Feb 21, 2014 12:16am IST

A worker sits on a truck as he waits for the loading of coal at a railway coal yard on the outskirts of Ahmedabad November 25, 2013. REUTERS/Amit Dave/Files

A worker sits on a truck as he waits for the loading of coal at a railway coal yard on the outskirts of Ahmedabad November 25, 2013.

Credit: Reuters/Amit Dave/Files

Related Topics

Stocks

   

NEW DELHI (Reuters) - Coal imports by power producers surged 31 percent to 66 million tonnes in April-January compared with the same period a year earlier, the power minister said on Thursday, as coal-based generation rose but domestic coal shortage continued.

India's rush to add power capacity after years of under-investment has forced electricity generators including NTPC Ltd (NTPC.NS) to import coal heavily as state-run monopoly Coal India Ltd (COAL.NS) has struggled to meet demand.

In April-January power producers imported 31 million tonnes of coal to blend them with lower quality varieties and about 35 million tonnes for plants that depend exclusively on coal from overseas, Power Minister Jyotiraditya Scindia said.

India's coal-based power generation rose 8 percent to 587.64 billion kilowatt hour during the period from a year earlier. Power companies are likely to import 82 million tonnes this fiscal year ending March 31, he added.

This was the first government data released on coal imports so far this fiscal year.

Research firm OreTeam told Reuters last month that total coal imports by industries such as power, steel, cement and others rose 21 percent to 152 million tonnes in 2013 and that shipments could rise to 170 million tonnes this year.

Top suppliers Indonesia, Australia and South Africa are the biggest beneficiaries of India's growing demand for coal, with Coal India estimating that India's coal shortage would hit 350 million tonnes in 2016-17.

India is trying to push Coal India, which accounts for about 80 percent of the country's total production, to raise output after the firm recorded six straight years of below-target output due to difficulties in obtaining environmental approvals, lack of railway access and other issues.

(Reporting by Krishna N Das, editing by David Evans)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

OBAMA'S VISIT

Reuters Showcase

Coal Mining

Coal Mining

India to open coal to commercial mining firms soon, minister says  Full Article 

RBI Loan Rules

RBI Loan Rules

RBI relaxes overseas loan recast rules   Full Article 

E-commerce Firms

E-commerce Firms

Amazon, e-commerce rivals fuel commercial property boom in India  Full Article 

Growth Forecasts

Growth Forecasts

Indian economic growth forecasts pegged back, despite rate cuts: Reuters Poll.  Full Article 

Uber is Back

Uber is Back

Uber back in Delhi; govt says must await approval.  Full Article 

Markets at Record

Markets at Record

Sensex rises to record after ECB stimulus programme.  Full Article 

Pharma Sector

Pharma Sector

Ipca Labs hit by FDA ban on plant for standard violations.  Full Article | Related Story 

Forex Reserves

Forex Reserves

India FX reserves at record high as RBI fortifies defences  Full Article 

QE for Euro Zone

QE for Euro Zone

ECB launches 1 trillion euro rescue plan to revive euro economy.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage